Bualuang Field Trumps Expectations

Four wells of the current 16-well development program on the Bualuang oil field in the Gulf of Thailand are now in production and have been performing ahead of pre-drill expectations, reported the operator Salamander Energy.

All the wells have been drilled horizontally into the T4 Miocene sandstone reservoir encountering between 1,624 feet to 1,739 feet (495 meters to 530 meters of pay), with excellent reservoir properties. The Atwood Mako (400' ILC) is drilling the development wells.

Year-to-date production for the Bualuang field averaged 10,531 barrels of oil per day (bopd), with average daily production in 2012 rated at 7,200 bopd. The operator is forecasting that the field will produce between 11,000 and 14,000 bopd, representing a minimum of a 50 percent increase in production year on year.

Salamander has contracted the jackup for a two-year period until September 2014.

Located offshore Thailand in the Western Basin's Block B8/38, the Bualuang oil field is estimated to hold reserves of 20 million barrels of oil. Salamander Energy serves as the operator of Bualuang with a 100 percent interest in the field.

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